The Crypto Markets are Down, But People Aren’t Worried – Here’s Why
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The crypto markets are moving up and down today, with the majority of the top ten coins by market capitalization in red territory. In fact, all but one of those coins is in the red zone. Not the best way to start off the week, is it?
Last week, it looked like Bitcoin (BTC) was in recovery. On April 12, the digital currency jumped $1,000 in one hour, causing the crypto bulls to come in hot. Unfortunately, however, the crypto markets string of good luck appears to have disappeared. Today, Bitcoin (BTC) briefly dropped below the $8,000 mark earlier in the trading day. It managed to climb back up, though, currently selling for $8,033.67. This puts the coin down nearly 3% in the past twenty-four hours. Meanwhile, Ethereum (ETH), Ripple, Bitcoin Cash, Litecoin, Stellar (XLM), IOTA, NEO, and Monero are all seeing red.
The only coin that is seeing green today in the top-ten list on CoinMarketCap, is Cardano (ADA). Currently selling for $0.245039, Cardano is up nearly 12% in the past twenty-four hours.
So we know the crypto markets are a bit sluggish today. Now, we want to know how people are reacting to this slump. Let’s see what we can find, shall we?
What are People Saying about the Crypto Markets Slump?
Over the last week, the crypto markets have seen some bold predictions. Tim Draper claimed Bitcoin (BTC) will reach the $250,000 mark in four years, while Tom Lee reiterated his forecast that BTC will hit $25,000 at some point this year. And it appears Monday’s slight slump hasn’t caused people to run away screaming- at least not yet it hasn’t.
As a matter of fact, one cryptocurrency analyst tweeted out to his followers (all 70,000) that he is far more comfortable with what the crypto markets look like right now. Why? Primarily because Joseph Young believes that Monday’s results indicate that cryptocurrencies are starting to have independent movements. Young added that he is glad that cryptocurrencies are not following “the trend of BTC.”
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Meanwhile, there are others in the crypto sphere that have decided not to worry about the crypto markets price fluctuations. This is because there is a lot of other stuff happening in the crypto markets today. For instance, there are a few who haven’t even voiced their opinions on today’s slight slump. Instead, they have put all of their energy into focusing on the fact that Coinbase just acquired Earn.com.
Anthony Pompliano, a cryptocurrency capitalist, tweeted to his 113,00 followers that the “battle for retail crypto investors” is about to get epic now that Coinbase acquired the Earn.com team. Mr. Young also added his two cents on this acquisition, tweeting it was a “genius move” by the exchange to acquire Earn.com.
Source : https://cryptocurrencynews.com/daily-news/crypto-news/the-crypto-markets-are-down/